Materials Select Sector SPDR (XLB*US)

On Sunday in Doha, major oil exporting countries failed to come to an agreement with respect to limiting production. Despite the collapse in talks, oil has bounced back from its initial sell-off early Monday. It appears that Doha's failure is actually giving our theme that growth may surprise on the upside a boost. With oil production still going full-steam ahead outside of the United States, there must be something at work to keep prices from collapsing.

For the past year or so we have been getting used to bad news on the world economy with the IMF, OECD, and the Fed taking a downbeat view on world growth, particularly China. However, North American insiders have not been so negative recently.

Every week we provide an American insider overview for our subscribers at INKResearch.com and TD Direct investing. Below I have incorporated the commentary from this morning's INK Research American insider article which appeared before the open. Today's commentary is particularly relevant for investors in the Canadian market as insiders south of the border appear to be confirming the tilt towards growth-oriented stocks we are seeing in Canada.